How Does Garuda Operate after Returning Leased Aircraft?

By Editorial Team 27/09/2021
Garuda's new management
Summary

PT Garuda Indonesia Tbk's (GIAA) business restructuring efforts have entered a new phase, marked by the return of large numbers of aircraft to lessors. Flight Global reported that Garuda returned 80 aircraft to the lessor and canceled the purchase of 90 new aircraft to improve its financial performance. The majority of them were wide-body aircraft used in long-haul flights.

Citing a report from research firm Cirium, Flight Global revealed that Garuda would no longer use Boeing B777-300ER and B 737MAX aircraft. It also returned seven units of Airbus A330-200 and eight units of Airbus A330-300. The airplanes were leased from several lessors such as ALAFCO, Air Lease, Aircastle, Altavair, Bocomm Leasing, and ICBC Leasing. Responding to this report, Garuda Indonesia President Director Irfan Setiaputra, on September 24, said that the negotiation process with the lessor was still underway.

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